Vanguard Group Inc. Has $151.65 Million Position in Two Harbors Investments Corp $TWO

Key Points

• Vanguard Group Inc. reduced its stake in Two Harbors Investments Corp by 1.2%, currently holding 11,350,925 shares worth approximately $151.65 million.
• Analysts have adjusted their price targets for Two Harbors, with UBS and Royal Bank of Canada both lowering their price objectives to $12.00, while maintaining a "buy" and "sector perform" rating, respectively.
• Two Harbors Investments announced a quarterly dividend of $0.39, yielding 15.4%, despite having a negative dividend payout ratio of -43.82%.

Vanguard Group Inc. cut its stake in shares of Two Harbors Investments Corp (NYSE:TWO - Free Report) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,350,925 shares of the real estate investment trust's stock after selling 139,176 shares during the quarter. Vanguard Group Inc. owned about 10.91% of Two Harbors Investments worth $151,648,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. PNC Financial Services Group Inc. grew its stake in shares of Two Harbors Investments by 95.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,615 shares of the real estate investment trust's stock worth $182,000 after purchasing an additional 6,658 shares during the period. XTX Topco Ltd purchased a new position in shares of Two Harbors Investments during the 1st quarter worth about $1,267,000. GSA Capital Partners LLP purchased a new position in shares of Two Harbors Investments during the 1st quarter worth about $666,000. Federated Hermes Inc. purchased a new position in Two Harbors Investments in the first quarter valued at approximately $140,000. Finally, LPL Financial LLC raised its holdings in Two Harbors Investments by 36.7% in the first quarter. LPL Financial LLC now owns 161,247 shares of the real estate investment trust's stock valued at $2,154,000 after buying an additional 43,253 shares during the period. 64.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CIO Nicholas Letica sold 8,654 shares of Two Harbors Investments stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $10.02, for a total transaction of $86,713.08. Following the completion of the sale, the executive directly owned 160,281 shares in the company, valued at $1,606,015.62. The trade was a 5.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by corporate insiders.

Two Harbors Investments Stock Up 0.6%

NYSE:TWO traded up $0.06 on Tuesday, hitting $9.87. 1,602,079 shares of the company's stock traded hands, compared to its average volume of 2,286,093. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.08. Two Harbors Investments Corp has a 1 year low of $9.49 and a 1 year high of $14.28. The firm has a 50-day moving average price of $10.22 and a 200-day moving average price of $11.53. The company has a market cap of $1.03 billion, a PE ratio of -2.77 and a beta of 1.25.

Two Harbors Investments (NYSE:TWO - Get Free Report) last released its earnings results on Monday, July 28th. The real estate investment trust reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. The company had revenue of ($18.12) million for the quarter, compared to analysts' expectations of ($23.29) million. Two Harbors Investments had a positive return on equity of 9.39% and a negative net margin of 67.06%. Equities analysts anticipate that Two Harbors Investments Corp will post 0.81 EPS for the current fiscal year.

Two Harbors Investments Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 29th. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 13.8%. The ex-dividend date is Friday, October 3rd. Two Harbors Investments's payout ratio is currently -43.82%.

Wall Street Analyst Weigh In

TWO has been the subject of several recent research reports. JMP Securities reaffirmed a "market perform" rating on shares of Two Harbors Investments in a research report on Thursday, July 3rd. Royal Bank Of Canada decreased their price target on shares of Two Harbors Investments from $13.00 to $12.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 28th. Maxim Group decreased their price objective on shares of Two Harbors Investments from $15.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Citizens Jmp reiterated a "market perform" rating on shares of Two Harbors Investments in a research note on Thursday, July 3rd. Finally, Wall Street Zen cut Two Harbors Investments from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $12.57.

Two Harbors Investments Company Profile

Two Harbors Investment Corp. invests in, finances, and manages mortgage servicing rights (MSRs), agency residential mortgage-backed securities (RMBS), and other financial assets through RoundPoint in the United States. The company target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, hybrid mortgage loans, or derivatives; and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions.